And it was a success (as far as software is concerned), less the trouble with figuring out proper levels. I have a hard time not relying on the metres to determine headroom, so I ended up having to normalise everything due to poor levels. A few xruns, but insignificant (upon starting new apps, running commands, etc.) On the gear side, sad that my order of 6 KSM44s did not pass. Ended up with 4 x Rode NT4 and a Zoom H2, with very bad hall acoustics and software reverb.
And yes, 5ms is good enough. Was just being a nerd :)